T1 Energy acquires TOPCon solar IP from Evervolt for $135M; to pay first tranche in stock

T1 Energy Inc.

Acquired foundational solar patents and IP from Evervolt for $135M total ($2M option + $133M purchase price).
IP relates to TOPCon solar cells and modules; T1 had previously licensed this IP from Evervolt.
Purchase price payable in four installments: $60M due within 3 business days, $25M by Sep 30, $30M by Oct 15, $18M by Oct 30.
First tranche to be paid in T1 common stock; subsequent tranches at T1's election in cash or stock at 15% discount to VWAP.
CEO says ownership of IP eliminates future royalty payments and differentiates T1 as vertically integrated U.S. solar manufacturer.

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